Investment bank DAM Capital Advisors Ltd. will launch its initial public offering on Dec. 19 at a price band of Rs 269-283 per share.
The IPO comprises only an offer-for-sale component of 3.2 crore equity shares worth Rs 840.25 crore. The net proceed will be entirely received by the promoter selling the stake after deducting their proportion of the offer expenses and the required taxes. Market value at the upper end of the price band is Rs 2,000 crore, as per NDTV Profit’s calculations.
Dharmesh Anil Mehta is offloading 42.41 lakh shares, as per the draft red herring prospectus.
Multiples Alternate Asset Management Pvt. Ltd is set to offload 88 lakh shares, followed by Narotam Satyanarayan Sekhsaria offloading 70.69 lakh shares, RBL Bank Ltd. with 68.31 lakh shares, and Easyaccess Financial Services Ltd. with 51.24 lakh shares.
Notably, DAM Capital Advisors filed the papers for its IPO with the capital markets regulator on Sept. 09, 2024.
Nuvama Wealth Management Ltd. is the book-running lead manager for the issue, whereas Link Intime India Pvt. is the registrar.
Post the IPO, the company will be listed on India’s two main exchanges—the NSE and the BSE.
The anchor investment round is scheduled on Dec. 18, a day before the offer opens for subscription. The IPO will close on Dec. 23.
DAM Capital Advisors Business
DAM Capital is one of the leading merchant banks in India with a market share of 12.1%, based on the number of initial public offerings and qualified institutional placements undertaken, as per CRISIL. They provide a range of financial solutions in areas of merchant banking comprising equity capital markets, mergers and acquisitions, private equity, and structured finance advisory; and institutional equities comprising broking and research.
They service 263 active clients including registered FPIs spread across geographies such as India, USA, UK, Europe, Hong Kong, Singapore, Australia, Taiwan, South Korea, Middle East and South Africa.
. Read more on IPOs by NDTV Profit.DAM Capital Advisors IPO comprises only an offer-for-sale component of 3.2 crore equity shares worth Rs 840.25 crore. Read MoreIPOs, Markets, Notifications
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